Saturday, October 28, 2023

"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 28 OCT

 Frank26  

 [Iraq boots-on-the-ground report]  

 FIREFLY:  It sounds like they're saying January 1st as the a date the stabilization process will be complete.  

FRANK:  Remember I told you...between now and January 1st there's a two-week phase/time Frame inside of these two months of November and December where these two weeks will play an important part in what we're studying.  

So it doesn't have to go all the way to January the 1st for it to be announced.  It can be announced and released inside of this time frame.  That's what Sudani is telling the Iraqi citizens - We got stability.

FIREFLY:  Sudani is talking and he tells the Iraqi citizens we are in a stabilized mode. 

 FRANK:  Do you understand?  They're not at first base...second base...third base.  They're at home base...they touched all the bases and they scored. 

 FIREFLY:  He says we will be complete by January 1st 2024.  He's saying we have to stabilize the exchange rate.

Stability in Dollar-Dinar Exchange: A Beacon of Hope for Iraq, 28 OCT

Stability in Dollar-Dinar Exchange: A Beacon of Hope for Iraq

In the pulsating world of currency exchange, where numbers dance to the tune of political and economic realities, stability is a rare guest. Yet, oddly enough, it has found a home in the financial markets of Baghdad and Erbil. On Saturday, the exchange rate of the US dollar against the Iraqi dinar remained unflinching, a calm facade amidst the closure of the stock exchange and the ebb and flow of global economic tides.

Stability Amidst Chaos

The dollar prices held steady at 161,500 IQD for $100, mirroring the rates from earlier in the day. Selling prices at exchange shops in local markets in Baghdad were also immobile, with the selling rate at 162,500 IQD for $100, and the buying rate at 160,500 IQD for $100. Meanwhile, in Erbil, the dollar maintained its composure, with a selling rate of 161,300 IQD for $100 and a buying rate of 161,200 IQD for $100.

This stability in the exchange rate suggests a rare equilibrium in the demand and supply of the two currencies in the market. The closure of the stock exchange may have played its part, reducing overall trading volume and volatility. For businesses and individuals who rely on foreign currency transactions, this stability is a welcome respite, allowing for effective planning and budgeting.

Economic Indicators and Implications

But the story of the exchange rate is more than just a tale of numbers. It’s a mirror reflecting the overall economic situation in Iraq. Despite the ongoing challenges and uncertainties, the country’s economy has managed to sustain a degree of stability, a positive sign for investors and businesses that indicates the country’s ability to weather external shocks.

However, it’s crucial not to misinterpret this stability as a testimony of the Iraqi dinar’s strength. The stability may be more a reflection of the overall weakness of the global economy and the US dollar, rather than the strength of the Iraqi economy. Historically, the Iraqi dinar has been a volatile currency, its value subject to the whims of political and economic factors.

Broader Developments and Their Impact

Besides the stability in the exchange rate, other developments in Iraq have implications for the country’s economy and its global standing. One such development is the protests by Iraqi university students against Israeli aggression in Gaza. These protests underscore the strong anti-Israel sentiment in Iraq and the wider region, reflecting the deep-rooted solidarity with the Palestinian cause among the Iraqi population.

These protests also spotlight the intricate dynamics of the Middle East region, where conflicts and tensions between various actors have far-reaching implications. The Israeli-Palestinian conflict is not merely a regional issue, but also carries global ramifications. Protests in Iraq and other parts of the Middle East serve as a reminder of the region’s interconnectedness and the urgency for a comprehensive and sustainable solution to the Israeli-Palestinian conflict.

Another noteworthy development is Iraq’s decision to abstain from voting on a UN resolution to cease fire in Gaza. This decision reflects Iraq’s stance on the Israeli-Palestinian conflict and its support for the Palestinian cause. It also underscores the complexities of international diplomacy, where countries must balance their national interests with their moral and ethical obligations.

This decision may have implications for Iraq’s relations with other countries, particularly those that maintain a more pro-Israel stance. It may also impact Iraq’s standing in the international community and its ability to effectively advocate for its interests on the global stage.

Overall, the stability in the exchange rate of the US dollar against the Iraqi dinar in Baghdad and Erbil is a beacon of hope for the country’s economy. It hints at a certain level of stability and resilience in the face of external challenges. However, it’s important to recognize that this stability is fragile, and can be easily disrupted by political and economic factors. Iraq’s position on the Israeli-Palestinian conflict also carries wider implications for the country’s relationship with other nations and its status in the international community.

https://bnn.network/finance-nav/stability-in-dollar-dinar-exchange-a-beacon-of-hope-for-iraq/


Iraq abstains from voting on UN resolution to cease fire in Gaza, 28 OCT

Iraq abstains from voting on UN resolution to cease fire in Gaza

Shafaq News / The United Nations General Assembly adopted today, Friday, an Arab resolution calling for an immediate humanitarian ceasefire and cessation of hostilities in the Gaza Strip.

Surprisingly, Iraq appeared as abstaining from voting according to the electronic board below:



https://shafaq.com/en/Iraq-News/Iraq-abstains-from-voting-on-UN-resolution-to-cease-fire-in-Gaza


Weekend News with MarkZ. 10/28/2023

The Iraqi Dinar Weekend Speculation Is Iraq Ready for a Big Announcement.

"RV UPDATE" BY MARKZ, 28 OCT

 MarkZ 

  [via PDK] Today Iraq is talking about “Electronic Payment Support” We are seeing they are modernizing  their banking system to launch in the real world...We are still seeing their ascension into the World Trade Organizations but when are they going to announce it?  There is lots of internal documentation off their own websites showing this...But they cannot fully join without an international currency that is not sanctioned or restricted.  When will they unveil what has happened? The take away is “It’s confusing on purpose” …I just hope Iraqi contacts are right and it’s going over this weekend.

[via PDK]   ...the chatter out of Iraq is the lower denoms have been seen and they are expecting an announcement within days.  Now, every time somebody tries to put up a video showing them…they disappear. I think the longest one of those videos stayed up today is about an hour. I’m so sorry I did not record it. But the chatter has gone through the roof in Iraq. Iraq has told us they want full de-dollarization by January 1st. For that to happen they need to move quickly IMO.…like now. 

  I hope my Iraqi sources are right and it’s this weekend…They did expect everything to be wrapped up by Nov 1st. That is exactly what they were being told…and that is what they told me. …Remember no one knows the exact timing…we are all guessing at it based on the information we receive.

Iraq has a lot of banking news…they are getting money in the banking system…building exchange centers…My sources in Iraq are still expecting it by the first…so sometime over the next 5-6 days. I hope they are accurate...My gut says we are about a week out. 

Al Sudani expresses Iraq's desire to advance its "distinguished" relations with the EU, 28 OCT

Al Sudani expresses Iraq's desire to advance its "distinguished" relations with the EU

Shafaq News / On Saturday, Prime Minister Mohammed Shia Al Sudani expressed his country's desire to further enhance bilateral relations with the European Union and expand partnership in various sectors. A statement from Al Sudani’s office mentioned that he received the European Union Ambassador to Iraq, Thomas Seiler.

During the meeting, they discussed the bilateral relations between Iraq and the European Union, as well as ways to strengthen them in a manner that serves mutual interests. They also discussed recent developments in the region, particularly the ongoing attacks on the Palestinian people in besieged Gaza.

The statement highlighted that Al Sudani reiterated Iraq's clear and principled stance, calling on the international community and EU member states to take responsible steps to halt aggression, bombings, and the targeting of civilians, and to establish safe corridors for delivering aid to Gaza, relieving the Palestinian people from the dire conditions they are enduring.


Furthermore, the Prime Minister expressed Iraq's desire to further develop its distinguished relations with the European Union and expand sincere partnerships across various developmental and economic sectors.

The European Ambassador pointed out that the relationship between Iraq and Europe has shown significant growth during the first year of Al Sudani's government. He also affirmed the willingness of various European parties to contribute to the Development Road project.


The statement quoted Ambassador Seiler as saying that European Union missions continue to work and collaborate with Iraq at the highest levels. He emphasized the EU's position on developments in the Palestinian issue, advocating for an immediate ceasefire, the application of international law, and the opening of humanitarian corridors for relief convoys.


https://shafaq.com/en/Iraq-News/Al-Sudani-expresses-Iraq-s-desire-to-advance-its-distinguished-relations-with-the-EU



CBI INTEL INFO: " WE ARE STILL SEEING LOTS OF NEWS FROM IRAQ EDUCATING CITIZENS IN MANY AREAS FROM MNT GOAT, 25 NOV

  Mnt Goat     ...we are still seeing lots of news from Iraq on educating the citizens in many area s. One biggie is the census... This leve...